With the emerging housing loan opportunities these days, purchasing a house may not be that difficult. More so, with the flooding real estate brokers who are ready to help you, looking for a buyer is quite a piece of cake.
Despite this easy way of placing your home in the market list, if you are a wise seller, you won't just be selling your house at any time you want. Instead, you might want to consider the right timing for you to finally let go of your beloved house. So, when is the right time?
Here's what can guide you well as to when is the best time to sell your house.
Consider the real estate market trend
The Globe and Mail reports that for the past 20 years, there was a dramatic rise in home prices due to the low interest rates for larger mortgages being offered to home buyers. Because of the demanding expenses of owning such expensive houses, homeowners have had increasing credit lines for home-equity which allows them to borrow huge amount of money from the banks to purchase more properties. Real estate industries are not ignorant of these financial trends which is why they are alert enough to advertise this in hopes of finding potential clients sooner. Now that you know this, you might want to be updated of the economic condition of your country especially on the real estate market, specifically housing buy-and-sell, for that matter.
Consider the season of the year
Season has much to do with the law of supply and demand in the real estate market. Realtor suggests that a warmer weather with more daylight is a better time for people to shop for a lot of things, including buying a new house. So, since there is a high demand for products and properties to buy, you have the greater chance to earn more than what your house really costs. Just make sure your house is beyond ordinary enough for the potential buyers to get attracted to. However, the demand for houses on the market depends on your location. So, apart from timing, location also matters. Ask a real estate agent if you are not sure about your home's area.
Do not assume that anytime can be the right time. Avoid selling on impulse.
In most cases, people who see the rising prices of homes will assume that the prices will continue to rise higher and higher through the passing of time. Considering this market trend, they believe they must buy a property immediately before the price rises even higher as related in The Globe and Mail by Robert Champion, vice-president of client services for Sprung Investment Management in Toronto, Canada. If such case takes place, you might be tempted to promote your house for rush selling without considering some important factors, such as the potential buyers' credibility and ability to pay. Remember, impulse buyers may not be a good buyer as they rush into purchasing without first counting the cost.
Your house could be the biggest investment you have had and selling it may be one of the biggest decisions you could ever make in your lifetime. With that, make sure that when it gets sold, the selling price doesn't go lower than its market value, let alone, its sentimental value.
